Auctions are a joke, spotters are usually placed in the audience to run the price up on junk that’s not worth the opening bid. Auctions can cause bidding frenzy. If you find a good one in your area, do not tell anyone, period.
Catalogs The joke about many flea markets is that the dealers all buy from the same catalogs. Thus they create a back stabbing environment in which no dealer wins.
Let me explain: most amateur dealers are desperate to make a sale and sell way below the 3x mark up rule. Of course, they go belly up down the road. Catalogs can be a great source of merchandise if you get one that the other dealers don’t know about. I use this trick all of the time.
Garage Sales Garage sales are tricky. They can be a joke, if the owners of the sale have gone to a few flea markets first and then price everything the same as the market vendors do. That’s no profit left for you. If they have some good stuff that you know form experience will sell at a flea market for a 2-3-x mark up, go for it!
(Tip: Go as early as possible, even before it opens if possible. If they have some really good stuff, offer to by it all at one easy price. That way, you both win. The garage sale never happens. The people don’t have to use up their day in the hot sun. You load all of the stuff up and haul it all to the nearest flea market. $$$!
Wholesale Stores The joke is the same if they are close to the market you are working. You can bet on it that there will be vendors selling the same products.
Copyright © 2004 Larry L. Austin
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The back-stabbing begins. There are many wholesale stores all over the country (see resource chapter). Most of these stores require that you have a retail sales tax number, a business card and, sometimes, a business license. So what’s the big deal? Get a tax number from the state. (see appendices)
Wholesale Flea Markets…Dealers Only! This is NOT a joke. In some areas of the country there are sections, or whole markets, for dealers only. Yes, you will probably need a retail sales tax ID number and a business card to get into the action.
Factory Over-runs This is a direct type of sale. You go to the factory in person and see what is for sale. Sometimes they have stuff that they can sell on the side at a great price. You will need a few extra bucks on your hip for this kind of buying.
Often these sales are made in cash only. Usually a factory spokesperson will talk to you or give you the name of someone who buys from them. Don’t be surprised if a factory rep wants a pay-off under the table to let you in the inner circle of buyers!
The Internet I have been searching the Internet for over three years and have yet to find a deal that I could buy, pay postage on and still make good money from reselling it.
If you find a good source, please pass it along to me. ☺
Copyright © 2004 Larry L. Austin
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